St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-29
RumorS Of War and Financial
Disaster Shake UP the
Stock Exchanges.
Russian Bonds Fall 2 Per Cent
and Others Decline in
Sympathy.
Sensation Created by the Re-
duct:.on of Rents by Irish
Land Commission.
Strong Efforts To Be Made to
Gust Lord Salisbury From
His Seat.
Copyright Special to the Globe.

Copyright Special to the Globe.
LONDON, Dec. 2S,-Persistent rumors
of war and financial disaster circulated
in the stock exchanges this afternoon
produced a genuine scare among the
holders of foreign bonds. AS the rumors
were chiefly directed toward Russian
military movements, and the panic in
the st. Petersburg bourse, Russian
bonds feel 2 per cent, though other Sc
curities sustained a considerable de-
cline in sympathy with the Russians.
The true cause of the excitement, how
ever, was said at a later hour to be the
failure of large bank in st. Peters
burg, and the Russian embassy was be-
81 eyed by interested persons anxious to
learn the truth, but the attaches pro-
fessed to be ignorant of anything re-
lating to the reports.
THE SWEEPING REDUCTION
of rents prescribed by the Irish land
commission has created a tremendous
sensation in England as well as in Ire
land. The average reduction of IA per
cent below the judicial rents ordered by
the commission is equivalent to re-
duction of 1850, 200 per annum, and an
annual capital value of from e3,000,000
to e5,O0O,0OO. The action of Commits
sioners Wrench and Lytton in signing
the order is severely criticised in many
quarters, while that of Judge O'Hagan
in appending a note of Inconvenience
is in the same circles highly COM
mended. The Dublin Express, the
Irish Tory organ, says the decision
of the commission has given ire
mendOus =, shock to interests in Irish
landed property, which must be felt for
years to come. The Irish Times says
the commission has abated rents to a
large extent without the slightest
thought of plan for SO doing, or a
check to any evil effect that may fol-
low. The Freeman's Journal Nation
alist, on the other hand, denOunceS the
commissions decision upon entirely
different grounds, saying the decision
dashes to the ground the last faint hope
of alienation. The reductions pre-
scribed are altogether inadequate of
tiding over the difficulty of the farmers,
and from whatever point of view re-
garded, they are nothing else than
ludicrous. From these comments,
which are fair examples of the general
criticisms, 1t Will be seen that
the commission has succeeded in pleas
ing no body, though it may
possibly be said in its behalf that little
Short of absolute abatement of rents
would have satisfied the one side nor
would the other have felt that it had
secured its full rights unless the COM
mission had greatly increased the rents
instead of reducing them. 1t is ru-
mored that a strong effort is to be
made to
GUST LORD AYLESBURY
from his seat in the house of lords, be-
cause of the recent turf scandals in
which he figured so disgracefully.
Doubtless many Of the noble lords
would be pleased to rid the upper house
of Aylesbury, but there are some, and not
a few, among them not whit better
than Ayelsbury, who would hesitate
to throw stones at him, because of the
danger to which they would expose
their own glass houses.